Luxury Texas home dangles from cliff's edge

A 4,000-square-foot luxury home valued at more than $700,000 is sliding over a cliff near Lake Whitney, Texas.

Much of the ground underneath the home, reportedly built in 2007, has tumbled into the lake. Large portions of the home are now dangling over a cliff, KHOU reports. Debris and soil have reportedly been spotted falling into the lake, roughly 75 feet below.

Additionally, large and ominous cracks are creeping up the walls of the home, which is currently unoccupied.

Neighbors Connie Ash and Jackie McNamara told WFAA that they heard some sort of crash on Tuesday evening.

"I immediately thought it was an earthquake or blasting; it was loud, really loud," Ash explained. "And then I saw smoke, dust, water ... I don't know, it was a huge cloud of stuff." The two neighbors called 911.

Authorities, aware of the home's precarious situation, placed a sign in front of the house reading "EXTREME DANGER, STAY OFF PREMISES," according to KHOU.

A crack in the land under the home was discovered about a year ago, CBS-DFW reports. Authorities have no plans to intervene to try to save the home and will instead allow the residence to tumble into the lake below, according to CBS-DFW.

Mark Wilson, chief deputy with the Hill County Sheriff's Office told CBS-DFW that he estimated the home was originally 60 to 80 yards from the lake. “Yes, there’s a lot of erosion,” he said.